Financial technology provider FIS has set up a corporate venture investment division, known as FIS Ventures, to invest $150m in fintech startups over the next three years.

The company said that move is part of its strategy to accelerate and ‘deepen its commitment’ to drive technological innovation.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

The fund will invest in early to growth-stage startups that focus on artificial intelligence (AI), machine learning, digital enablement, automation, data, analytics, security, privacy, distributed ledger technology and financial inclusion.

FIS chief growth officer Asif Ramji said: “FIS Ventures is a significant new component of our investment strategy to identify and bring to market innovative new technologies that advance the way the world pays banks and invests.”

In addition to capital investments, FIS Ventures will actively work in partnership with the startups and provide them with proprietary access to FIS channel partners and banking clients.

FIS Ventures is expected to complement FIS’ broad ecosystem of innovators and key initiatives like the annual FIS FinTech Accelerator program, FIS Innovatein48 research and development competition, and FIS innovation labs.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The venture capital arm has already made its first investment in January 2020 by participating in a Series B funding round of San Francisco-based payments technology company Flutterwave.

Founded in 2016, Flutterwave allows customers to build customisable payment applications through its APIs.

It has an active presence in 10 African countries, including Nigeria, Ghana, Kenya, and South Africa.